BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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4.1% of GDP
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4.2% of GDP
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4.3% of GDP
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4.5% of GDP
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Detailed explanation-1: -The fiscal deficit for 2013-14 has been contained at Rs 508149 crore (provisional) which is 4.5% of the GDP. The corresponding figure for 2012-13 was 4.9%. The primary deficit would be 1.2% of the GDP in 2013-14 while the revenue deficit is 3.2%.
Detailed explanation-2: -Fiscal deficit for the current year contained at 5.2 percent and for the year 2013-14 at 4.8 percent. Revenue deficit for the current year at 3.9 percent and for the year 2013-14 at 3.3percent.
Detailed explanation-3: -The gross fiscal deficit in 2014-15 as per cent to G.D.P. of India is 4.1%. The Budget, in line with these broad objectives and the revised roadmap for fiscal consolidation, has indicated a reduction in gross fiscal deficit-GDP ratio from 4.5% in 2013-14 to 4.1% in 2014-15 and further to 3.0% by 2016-17.
Detailed explanation-4: -Answer: On impact of the new data on fiscal deficit, which is calculated as a percentage of the GDP, Chief Statistician T C A Anant said: “The size of economy has marginally declined to Rs 113.45 lakh crore in 2013-14 under the new series from Rs 113.55 lakh crore (under the old series)."